Despite the per­sis­tently tense geopo­lit­i­cal and increas­ingly dif­fi­cult macro­eco­nomic envi­ron­ment, the bm|t Investee part­ners secured over EUR 116 mil­lion in equity and mez­za­nine cap­i­tal in 2023. The invest­ments were spread across 26 com­pa­nies in 39 invest­ment rounds. The funds man­aged by bm|t pro­vided EUR 29.5 mil­lion and the co-investors EUR 86.6 mil­lion. In addi­tion, bm|t had two suc­cess­ful exits in 2023 with the sale of its stake in BianoGMP and Sec­ond­Sol, both of which were acquired by excel­lently suited com­pany buyers. 

“Given the mas­sive decline in over­all ven­ture cap­i­tal fund­ing in Ger­many and most regions of the world, we are very pleased that we have been able to sig­nif­i­cantly increase the vol­ume of cap­i­tal raised by our Investee Part­ners. The fact that 21 of our investee part­ners have raised seven- or eight-fig­ure amounts shows the strength and breadth of our port­fo­lio, which has devel­oped well in recent years,” com­ments Kevin Reeder, CEO of bm|t.

Another pos­i­tive sig­nal for the future of ven­ture cap­i­tal financ­ing in Thuringia was the launch of three new invest­ment funds with a total vol­ume of over EUR 90 mil­lion for invest­ments in inno­v­a­tive com­pa­nies. The Thuringian Startup Fund II (TSFII), the Growth Invest­ment Fund II (WBFII) and the Thuringian Future Fund III (TZFIII) fit together well to ensure appro­pri­ate and coor­di­nated financ­ing for high-per­form­ing inno­v­a­tive com­pa­nies for many years to come. 

“Like almost all ven­ture cap­i­tal and pri­vate equity investors, we faced many head­winds and chal­lenges last year. I am par­tic­u­larly proud that in these dif­fi­cult times, our out­stand­ing investee part­ners, strong co-investors and the entire bm|t team worked tire­lessly together to deliver a very suc­cess­ful year in an extremely chal­leng­ing envi­ron­ment,” added Kevin Reeder. 

Since 2017, bm|t Investee part­ners have secured over EUR 715 mil­lion in equity and mez­za­nine invest­ments, with over EUR 154 mil­lion invested by funds man­aged by bm|t and over EUR 565 mil­lion invested by other investors. Dur­ing this period, the funds man­aged by bm|t achieved returns of over EUR 105 mil­lion through more than 12 exits with invested cap­i­tal of around EUR 30 mil­lion. Reeder con­cludes: “Sev­eral sig­nif­i­cant and highly prof­itable exits in recent years are clear proof that excel­lent invest­ment returns can be achieved here in the Free State of Thuringia, which in our opin­ion remains sur­pris­ingly under the radar of most investors.” 

About bm|t

bm‑t beteili­gungs­man­age­ment thürin­gen (bm|t), based in Erfurt, is the first port of call for ven­ture cap­i­tal in Thuringia. bm|t cur­rently man­ages twelve invest­ment funds with a total vol­ume of EUR 445 mil­lion and invests in inno­v­a­tive, high-growth com­pa­nies in all sec­tors and at all stages of the cor­po­rate life cycle.